Shake Shack has reported like-for-like sales increased 11.7% in the 13 weeks to 1 April.
In that period total revenue increased 56.3% to $37.8m with total sales up 59.2% to $36m.
Operating profit was up 78.3% to $9.3m with adjusted EBITDA up 94% to $7m.
The company recorded a net loss of $12.7m, which included $13.2m of after-tax expenses associated with the company’s initial public offering.
Chief executive Randy Garutti said: “We are pleased to have continued our strong momentum through the first quarter. During the quarter we opened three new Shacks as we entered Baltimore, Maryland in the Inner Harbor, and deepened our roots in the Boston market with Shacks opening on Newbury Street in the heart of the historic Back Bay neighborhood and in Dedham, MA at Legacy Place. Our strong track record of opening successful Shacks in both the United States and internationally continues to demonstrate the global appeal of Shake Shack and validates our belief in our significant whitespace opportunity. We remain on track to execute our plan to open at least ten new domestic company-operated Shacks and five new international licensed Shacks in 2015 and have an exciting pipeline building for 2016 and beyond, including our recently announced expansion to California and Japan. As we expand globally, we are committed to connecting to our communities, advancing our culture as we grow, further capitalizing on the shift we see in consumer eating preferences and continuing to deliver on our mission to ‘Stand for Something Good’.”
For the year ending 30 December the company predicted total revenue to be between $161m and $165m with like-for-like sales growth in low to mid-single digits. It anticipates at least ten new company-operated stores to open throughout the year and five international licences in the UK and Middle East.
